Inventory Turnover The following data (in millions) were taken from recent annual reports of Tomato Computer, Inc., a manufacturer of personal computers and related products, and Happy Times...


Inventory Turnover<br>The following data (in millions) were taken from recent annual reports of Tomato Computer, Inc., a manufacturer of personal computers and related products, and Happy Times Corporation, a manufacturer and<br>distributor of greeting cards and related products:<br>Tomato<br>Happy Times<br>Cost of merchandise sold<br>$5,424,900<br>$2,520,500<br>Inventory, end of year<br>105,000<br>159,000<br>Inventory, beginning of the year<br>64,000<br>196,000<br>a. Determine the inventory turnover for Tomato and Happy Times. Round to one decimal place.<br>Tomato<br>Happy Times<br>b. Would you expect Happy Times inventory turnover to be higher or lower than Tomato's?<br>Lower<br>

Extracted text: Inventory Turnover The following data (in millions) were taken from recent annual reports of Tomato Computer, Inc., a manufacturer of personal computers and related products, and Happy Times Corporation, a manufacturer and distributor of greeting cards and related products: Tomato Happy Times Cost of merchandise sold $5,424,900 $2,520,500 Inventory, end of year 105,000 159,000 Inventory, beginning of the year 64,000 196,000 a. Determine the inventory turnover for Tomato and Happy Times. Round to one decimal place. Tomato Happy Times b. Would you expect Happy Times inventory turnover to be higher or lower than Tomato's? Lower

Jun 03, 2022
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